Ivanka Trump’s fashion line enjoys sales boom after she becomes First Daughter
Poriborton Desk 4:21 pm, April 13, 2017
Despite a turbulent year in the press and a boycott from consumers backing the #GrabYourWallet campaign, Ivanka Trump’s fashion label has defied its critics as it posts a 61% increase in wholesale revenues.
G-III Apparel Group, the manufacturing firm behind the First Daughter’s company, as well as other fashion brands including Calvin Klein, DKNY and Tommy Hilfiger, has released its annual statement, noting that sales of Ivanka Trump licensed products rose to $47.3million in the year ending 31st January 2017.
This performance contrasts dramatically with statements released by department stores such as Nordstrom, one of many big names to drop Ms Trump’s products, citing weak sales. Neiman Marcus and Bergdorf Goodman, also dropped the label, and Trump’s merchandise was relegated to clearance bins. It is still stocked by Macy's, Bloomingdales and Dillard's in the US.
Ivanka distanced herself from the label later that month, taking a leave of absence from her role as CEO after her ethics were questioned, as she was frequently wearing and promoting her own products via presidential platforms. This month she confirmed her new role as Assistant to the President, meaning that she has officially halted all ties with her namesake label for the time being. It is unclear how this detachment will affect sales in the coming months.
“We are proud that our business is growing rapidly and that our brand resonates strongly with women who are inspired by our messaging,” company president Abigail Klem told The Telegraph back in November, just after the election. ‘Over the past year many more women have discovered and become loyal to the brand, leading us to experience a significant year over year revenue growth.’
Despite its impressive growth, the brand is still one of the smallest within G-III's total business. Its entire company sales hit $2.39 billion in the last year, meaning that Ivanka’s line accounted for just under 2% of revenue.
Source: The Telegraph
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